Hyatt Hotels

Hyatt "was founded by Jay Pritzker in 1957 when he purchased the Hyatt House motel adjacent to the Los Angeles International Airport. Over the following decade, the Pritzker family business interests grew the company into a North American management and hotel ownership company, which became a public company in 1962. In 1968, Hyatt International was formed and subsequently became a separate public company. Hyatt Corporation and Hyatt International Corporation were taken private by the Pritzker family business interests in 1979 and 1982, respectively. On December 31, 2004, substantially all of the hospitality assets owned by the Pritzker family business interests, including Hyatt Corporation and Hyatt International Corporation, were consolidated under a single entity, now named Hyatt Hotels Corporation."

"August 29, 2007 - Tom Pritzker, Chairman of Global Hyatt Corporation, announced today that Madrone Capital Partners, a private investment firm affiliated with Rob Walton and his family, and entities affiliated with Goldman Sachs Capital Partners have agreed to invest a total of $1 billion to acquire equity securities in Global Hyatt Corporation. This investment represents a minority stake in the company and will be used primarily to provide liquidity to the Pritzker family interests that currently own Global Hyatt. Global Hyatt Corporation will be expanding the size of its Board of Directors to include the appointment of representatives from both investment groups. Greg Penner, a General Partner of Madrone Capital Partners, and Byron Trott, a Vice Chairman of Investment Banking, Goldman, Sachs & Co., will be joining the Board."


 * Mark Hoplamazian, President and CEO of Global Hyatt Corporation

Criticism

 * Carl Finamore, "National Actions against Billionaire Pritzkers", ''Znet, June 11, 2010.

Contact

 * Web: http://www.hyatt.com

Related Sourcewatch articles

 * Nicholas J. Pritzker
 * Shape the Debate
 * Air America Radio
 * American Turkish Council
 * Conservation International
 * Paul Helliwell
 * Penny S. Pritzker